Digital challenger bank Revolut raises $66m

Revolut is one of several fintechs challenging banks to raise funding this year (Source: Revolut)

Digital challenger bank Revolut has secured millions in new funding from top investors to fuel ambitious expansion plans.

The startup has raised $66m (£51m) in a series B from existing investors Balderton Capital, Index Ventures and Ribbit Capital in the latest sign of investor appetite for startups looking to take on the big banks.

It brings total funding for the challenger to $83m and the fresh cash will go towards pursuing expansion in Asia and North America and launch new products and services.